The Ultimate Relocation Guide: The Things Buyers Don’t Expect

The Ultimate Relocation Guide: TheThings Buyers Don’t Expect

...And Many Agents Just Don’t Think About

By Karryn TorresYour Dallas Real Estate Expert

Table of Contents

1. Preface 1

2. Do You Have A “Relo Package”? 2

3. You Don’t Have To Use “Their Agent” 3

4. Benefits Aren’t Always Beneficial 4

5. Sticker Shock 5

6. “This Isn’t Kansas Anymore…” 6

7. Finding Your Focus 7

8. Everyone’s Got A Real Estate Opinion 9

9. What To Look For 10

10. Is It A “Good” Area? 11

11. Should You Rent A Home First? 12

12. When To Start Looking For Your Home 13

13. Getting The Best Home At The Best Possible Price 14

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Karryn Torres I Ebby Halliday Realtors I 214-537-9854 I [email protected] document is copyright protected. Reproduction, in part or in whole, is strictly prohibited.

1. Preface

So, it looks like we might be neighbors pretty soon! There’s nothing I like better thanintroducing someone to the Dallas area!

It can be tough finding the perfect combination of town, neighborhood, and house thatyou like whenever you move. But it can be even tougher when you aren’t all thatfamiliar with the area. I pride myself on helping people make the best decision possiblein the short time they have to get the lay of the land when they relocate here.

With that said, this booklet isn’t going to be fluffy “welcome to the area” information —like what the best ice cream places, restaurants, and things to do are. (But I’ll be glad togive you my insights and opinions on those things if you want!)

Nor does this jump right into focusing on how to find and get the best home at thebest price for your wants and needs. While that is obviously a huge concern and part ofthe process for you, jumping right into the “fun stuff” can cause you some issues if youdon’t know about the things we will get into here.

This booklet is a deeper, in-between-the-lines look into some aspects of relocating thatmost buyers don’t expect (and many agents just don’t think about).

I hope this booklet will help you make as smooth a transition as possible!

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2. Do You Have A “Relo Package”?

Not everyone moves to a new area due to a career change, but it’s a pretty commonreason.

And when they do, there’s always a chance that the company they’re moving for willoffer a “relocation package” — AKA “relo package” if you want to sound like this isn’tyour first rodeo.

However, a relocation package isn’t offered to everyone who’s being asked to relocatefor a job. So, this might not apply to you at all.

The thing is, in the excitement, some people rush right into starting their home searchbefore knowing whether or not they do have a relo package...only to find out oncethey’ve already started the process and made some decisions. Doing this can lead tounexpected issues and, perhaps, a loss of the benefits the company is willing to offer.

So, if you’re moving to this area for a particular company and you don’t know whetheror not you’re entitled to a relo package, make sure to ask the company and find outbefore moving forward any further.

Pro tip: If you do not have a relocation package, feel free to skip right past thenext few pages and on to section 5!

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3. You Don’t Have To Use “Their Agent”

If you are offered a relo package, chances are good that the relocation company (and /or your employer) will more or less lead you to believe that you have to use one of their“approved” real estate agents to remain eligible for the benefits of the relocationpackage.

They’ll typically give you three agents, from different companies, to choose from. In thisrespect, they do give you some choice.

They claim the agents are “certified” or trained in relocation practices...but that couldsimply be a few hours of in-class or online training. While the agents they recommendare “approved” by them, that doesn’t necessarily mean that they’re the best agents tochoose from. (It also doesn’t necessarily mean that the agents they refer to you aren’tgreat agents.) It mostly just means that the agents they are recommending are in theirsystem.

A great agent isn’t just someone who will drive you around, give you a tour, open thedoor to a bunch of houses, and help you find a home you like. There’s a lot more to theprocess, and especially so when you are relocating. So make sure to find someonewho’s knowledgeable, skilled, and who will represent your best interests in everyaspect.

My best recommendation is for you to do your research and choose the agent youwant to represent you throughout the process. If the agent you find and choose isn’talready approved by the relocation company, they can usually get approved by simplymaking a phone call or two and filling out some paperwork.

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4. Benefits Aren’t Always Beneficial

One last segment on relocation packages…

Getting offered a relocation package seems like a pretty sweet deal to most people,and they just sign on the dotted line before truly reading through the entire agreementand understanding exactly what the benefits (and costs) are.

Costs aren’t necessarily monetary. After all, on the surface, a relocation package seemsto be giving you monetary benefits, like (perhaps) covering the cost of movers, hotelstays, food, incidentals, and flights. But relocation packages differ. They don’t all offerextensive benefits. And the costs to you can be subtle and only realized once you’vealready signed the agreement and are in the middle of the process.

While the “costs” as a relocating buyer aren’t as bad as they can be as a seller, it stillmakes sense to take a long, hard look at what you’re being offered and then determineif there are any strings attached. When it comes to buyers, the “costs” are usually alongthe lines of limitations in choice (of services and providers) and time frames (which cancompel a rushed decision).

One of the most interesting requirements of many relo packages is that you do notdiscuss the terms or benefits of the package with anyone...including your real estateprofessional. In turn, the “approved” agents the relocation company refers to youaren’t allowed to discuss the terms or benefits either.

So, it’s kind of on you to analyze whether or not the package being offered is worth thecosts. Just make sure to do so before you sign on the dotted line because once you doyou’re at their mercy.

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5. Sticker Shock

In an ideal world, you’re moving from an area that has a higher cost of living, and theprices of homes will be a good shock to you.

But quite often, when you’re moving to a new area, it’s an “upward” move, and theprice of real estate is significantly higher than what you’re used to.

There’s a good chance that you’ve already sized that up to some degree online, but theactual reality can be even more startling once you’re actually out looking at homes andseeing how far your dollar stretches.

This can be disheartening, causing you to lose time and miss out on some great homeswhile you come to terms with the cost difference. This is why it’s best to spend sometime learning what you can expect for the amount you’re looking to spend as early onas possible.

Don’t worry, you’ll find a perfect mix of Dallas, neighborhood, and house as long as youwork with a solid real estate agent. It just takes a certain amount of understandingwhat the values are (and why) in one area versus another.

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6. “This Isn’t Kansas Anymore…”

Wherever you’re moving to, things are bound to be different than where you’re comingfrom. This is true In many ways, of course, but let’s focus on the real estate differences.

It isn’t just real estate values that will likely differ from where you’re coming from. It’salso:

The styles of homes — the type of constructionThe sizes of homesThe sizes of yardsLandscapingDecorAmenitiesTypes of utilitiesThe feel of neighborhoodsAnd many more…

A lot of people try so hard to duplicate what they have “back home.” Sometimes thatcan be achieved, but a lot of times it just can’t be. The problem with doing that is it cancause you to waste time and miss out on some great homes while you grapple withtrying to find something that feels familiar to you.

Embrace the differences and change! This will be exciting. And who knows — if andwhen you move away from this area, you may very well be yearning for what you hadhere in whatever area you end up moving to.

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7. Finding Your Focus

There’s a good chance that you can and should be open to a bunch of different Dallassuburbs. Having options is a good thing...for the most part. But having too manyoptions can also end up costing you a lot of time.

Finding the perfect home in the perfect area can be tough even if you’re local, butwhen you’re relocating you’re often pressed for time. You only have so many trips youcan take out to the new area to hunt for a home, and you usually need to linesomething up before you get to the area.

So it’s best to focus on a few areas before you even come out to look.

Thankfully, the Internet has made this a lot easier than it used to be. But it can still betricky to get a real feel for an area until you actually see it in person.

This all sounds pretty basic, but here’s the real tip for this section…

A lot of people relocating to a new area end up working with several different realestate agents in several different areas. That probably doesn’t sound like a hugeproblem to you since you don’t have to pay a buyer’s agent — they earn a commissionif and when you make the purchase.

But here are the issues that can arise when looking in several different areas withseveral agents:

Each one will be a “cheerleader” for their area. Of course they love the area theywork in (and probably live) and think you should too! That’s totally natural andhuman, but it isn’t objective.Because the agents only earn money if you choose to buy a house in their area,they’re likely to be dismissive or recommend against another area that may beperfect for you.

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So, if possible, try to work with one agent who can cover all the areas you’reconsidering.

Also, try to rule out as many areas as possible (as quickly as possible) so you can focusyour limited time and energy on the areas that are perfect for you.

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8. Everyone’s Got A Real Estate Opinion

You might already know some people who live in the area, but even if you don’talready, you will — whether they’re future colleagues, bosses, or just people you meet.And every one of them will have an opinion about where you should move!

Everyone has the right to their opinion on where a good place to move is, and theyprobably have strong opinions based upon where they’ve chosen to live and wherethey’ve chosen not to live. People generally (and probably genuinely) will want to behelpful to you.

The problem is, they won’t know all of your personal wants, needs, and qualifications.So they may be recommending a great house, or a great area, but it just isn’t in yourbudget. Or perhaps it misses the mark when it comes to some of your specific wantsand needs. It might not sound like the biggest problem in the world, but it can makeyou feel like other areas or houses aren’t great choices when they really are. They canalso make things sound like the greatest deal on earth, or most solid decision, when itreally isn’t. It’s their opinion...not their business (literally or figuratively).

So, certainly listen to what locals have to say and recommend, but never discount yourown thoughts and opinions. Form your own. And rely on a solid real estate agent whocan help you objectively analyze your options and make the best overall choice for yourwants and needs.

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9. What To Look For

Certainly you want to enjoy the home and area you decide to move to. And hopefullyyou’ll be there for quite some time, if not forever. But the reality is, many people whorelocate to an area end up moving again not too many years later, especially if it’s for ajob. (People who relocate for a career have a tendency to be moved again.)

So, one of the most important things you need to consider is a home with good resalevalue.

That doesn’t necessarily mean you’ll find a home that you can turn a quick and healthyprofit on. It means finding a home that you can resell fairly quickly and easily withoutlosing money.

What constitutes a good area and a good home for resale? That really depends onexactly where you end up focusing and what your budget is. But in the broadest sense,most home buyers want a home in an area with good schools, low crime, access tomajor roads and transportation, shopping, and services. That’s just a general rule ofthumb. Not everyone in the world wants those things. But they do tend to be bettercriteria for easier resale.

To be safe, try not to choose something that is too unique or has a major deficit (likebacking to power lines, train tracks, a highway, etc.).

And look at data and statistics. Granted, data and statistics change over time, so it isn’ta guarantee that how quickly and easily houses sell in an area will be the same whenyou have to move. But try to get a feel for the price ranges that resell most readily inthe area currently and in the past. That should be a pretty good indication of thefuture.

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10. Is It A “Good” Area?

First of all, “good” is a very subjective word. What one person considers “good,” anotherperson may not. On the other hand, what someone considers a “bad” area is “good” toothers.

But let’s just say that when most people ask this question when it comes to real estate,they want to know if it’s safe, has good schools, and has solid resale value.

So, real estate agents often get asked that very question… “Is this a good area?”

And when they do, they can often come across as sounding kind of wishy-washy. It’s astraightforward question, so one might think it could be answered with a simple “yes”or “no.”

It’s not that simple…

Agents, by law, aren’t allowed to tell you whether an area is “good” or “bad.”Doing so can cause them to be fined or lose their license. So if you ask, and youfeel like they’re avoiding the question, just know that there’s a solid reason fordoing so.

The best advice you can get is to spend some time in an area you are interested in. Goduring different times of day. Do you feel safe? You can also look up statistics online, ofcourse, and perhaps even go to the local police station and ask them some questions.

The same goes with schools. What constitutes a “good” school to one person may bedifferent for another. So, if schools are important to you, make sure to look at reportsand statistics online and even make some calls to local school administrators.

Oh, and don’t even try to ask an agent questions about what race, religion, or the like ismost common in the area. As you can imagine, those are off limit subjects as well. So,expect to do a little bit of research for yourself.

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11. Should You Rent A Home First?

Some people wonder if it makes sense to rent a home in the area for a while beforeactually buying one.

This can make sense — you can get a feel for the area and not feel like you’re making arash, rushed, or wrong decision.

However, a lease can tie you down and cause you to miss some good opportunitieswhen a home you want to buy comes on the market (or cost you some money to getout of the lease or pay it off).

So if you’re going to rent, you might want to consider short-term leases or even a long-stay hotel to keep your options open.

If that’s something you’d like to consider, feel free to reach out to me, and I’ll be glad togive you some local options to do so.

(Keep in mind: Renting can add to the overall cost and effort of the move since you’ll bemoving twice.)

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12. When To Start Looking For Your Home

It’s hard to say exactly how long it will take you to look for and find the right home. Butgenerally speaking, people who are relocating from a different area are moredeliberate and concise in their search for a new home.

Someone who lives locally can often drag the process out, looking for a long period oftime simply because they are local. But when you have limited time, and trips, to cometo your new area and search for a home, you will likely make the most of that time.

Since the amount of time it takes one person to search for and find a home will vary,the more important thing to focus on is how long the process will take to actually closeon the house you purchase once you go under contract.

Even that will vary from one area of the country to another and from deal to dealwithin this area. But on average, it takes 30 days between the time you go undercontract and closing day.

So give some thought to when you want to actually move into your new home, andthen take into account that amount of time. Then, add a month or two onto that for amore leisurely process of searching for a home. (But you can certainly do a thoroughsearch and find a winner in less time than that if you are focused and concise.)

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13. Getting The Best Home At The Best Possible Price

Who doesn’t want to find the best home they can? Beyond that, who wouldn’t like toget it at the lowest possible price?!

Yet many people don’t do either. And that’s across the board, not just people who arerelocating to a new area. Add into the mix the stress and time crunch of buying ahouse while worrying about everything else that comes along with relocating to a newarea, and it makes it all the less likely to happen.

This booklet was created to give you some insights into typical issues and topics thataffect people relocating to a new area and buying a home. But it doesn’t get into themore universal topics and issues that affect being able to get the best home you can (atthe best possible price).

I have another booklet that helps with that…

My Ultimate Buyer’s Guide is a bit longer and more in depth than this one, butit’s worth your time and effort to read.

It’s free, and there’s no obligation. All you have to do is let me know you want a copy,and I’ll get it right to you. (I can send it as a PDF by email and/or a print copy if you’dlike.) Just send me an email or a text, or give me a call!

And if I don’t hear from you, good luck with your move! But I do hope to hear fromyou!

Compliments of:

Karryn Torres

Ebby Halliday Realtors

Real Estate Agent

214-537-9854

[email protected]

Whether you are needing to buy or sell your home, it is my goal to make the process aseasy and stress free for you as possible. One way I ensure this is by listening to youand what your goals are. I will work diligently until every aspect of your buying andselling experience has been completed and done so with top-rated customer service.My goal is to build lasting business relationships and be the source you count on toprovide valuable and current info regarding the real estate market long after yourpropety closes.

Interested in moving to the Dallas area? You can learn more about the Dallas metroplexand suburbs on my YouTube channel, Move Me to Dallas.

https://www.youtube.com/channel/UCdsVgnqk8S-X4_ArBZmSWpA

Documents

The Ultimate Relocation Guide: The Things Buyers Don’t Expect